Sunrise Reports Q4 EPS of $0.87

Sunrise Senior Living, Inc. SRZ today reported financial results and operating data for the fourth quarter and full year of 2010. In the fourth quarter of 2010, Sunrise reported revenues of $319.0 million as compared to $363.0 million for the fourth quarter of 2009. Net income for the fourth quarter of 2010 was $50.0 million or $0.87 per fully diluted share, as compared to net income of $10.4 million, or $0.19 per fully diluted share, for the fourth quarter of 2009. The change between periods was primarily driven by a $10 million buy-out fee paid by HCP and a $25 million gain resulting from the sale of our venture interest to Ventas. Adjusted income from ongoing operations was $1.6 million in the fourth quarter of 2010 as compared to an adjusted income of $6.3 million in the fourth quarter of 2009. Adjusted EBITDAR for the fourth quarter of 2010 was $25.7 million as compared to $42.1 million for the fourth quarter of 2009.